This article needs to be updated. (November 2024) |
EchoStar Corporation is an American company providing satellite communication, Wireless telecommunications, and Internet services. Its Hughes Network Systems and EchoStar Satellite Services business are operated from its headquarters in Arapahoe County, Colorado. The company also provides television services under the Dish and Sling brands as well as mobile services under the Boost Mobile brand.
 | |
| Company type | Public |
|---|---|
| |
| Industry | Telecommunications Satellite television |
| Founded | January 1, 2008 |
| Headquarters | Englewood, Colorado, U.S. |
Key people |
|
| Products | Direct-broadcast satellite, pay television, pay-per-view, over-the-top media services, Mobile telephony, Wireless broadband |
| Revenue |  US$1.99 billion (2021) |
| US$217 million (2021) | |
| US$62.7 million (2021) | |
| Total assets |  US$6.05 billion (2021) |
| Total equity | US$3.41 billion (2021) |
Number of employees | c. 2,500 (2021) |
| Subsidiaries | |
| Website | echostar |
| Footnotes / references [1] | |
The company in its current form was founded in 2008 after the original EchoStar spun off its non-consumer assets while the original company was renamed to Dish Network Corporation. In an industry reverse, EchoStar proposed to buy Dish in 2023 with the acquisition being completed by the end of that year, as a result, Dish was absorbed into EchoStar as a whole.[2]
EchoStar made its debut on the Fortune 500 list in 2024, ranking #242.[3]
History
editEchoStar was originally formed in 1980 by its chairman Charles Ergen as a distributor of C band TV systems. In 1987, it applied for a direct broadcast satellite (DBS) license with the Federal Communications Commission and was granted access to orbital slot 119° west longitude in 1992.
On December 28, 1995, the firm successfully launched its first satellite, EchoStar I.[4] On March 4, 1996, it established the Dish Network brand name to market its home satellite TV system.[5]
On January 2, 2008, the Dish Network business was spun-off from the technology and infrastructure side of the business. A split in the shares created two companies; the former EchoStar Communications Corporation changed its name to Dish Network Corporation[6] which consisted mainly of the Dish Network business, and EchoStar Corporation, which retained ownership of the technology side including the satellites, Sling Media, and the set-top box development arm. Dish Network completed its distribution to EchoStar of its digital set-top box business, certain infrastructure, and other assets and related liabilities, including certain of their satellites, uplink and satellite transmission assets, and real estate. Following the spin-off, EchoStar and Dish Network operated as separate publicly traded companies, until they were reunited in 2023.[7]
On February 14, 2011, EchoStar announced that it would acquire Hughes Communications in a deal valued at US$1.3 billion.[8]
On January 31, 2017, EchoStar announced that it had reached an agreement with DISH to transfer the EchoStar Technologies businesses, which designed, developed and distributed digital set-top boxes, provided satellite uplinking and broadcast services and developed and supported streaming video technology back to DISH.[9] The transaction was completed on January 31, 2017,[10] substantially returning DISH to its pre-2008 status as a set-top-box hardware manufacturer.
In March 2017, after two delays caused by weather worries, SpaceX delivered EchoStar XXIII into orbit. The satellite was launched on a Falcon 9 Rocket and provides broadcast services for Brazil.[11] Because EchoStar XXIII is a heavy satellite, this mission did not include a rocket landing post-takeoff, as it would require too much fuel. This was the first time a purely commercial satellite was launched from a pad that once served as the base for Apollo moon trips and space shuttle flights.[12][13]
On May 20, 2019, EchoStar announced that it had reached an agreement with Dish Network Corporation to transfer the portion of the business which managed and provided broadcast satellite services, referred to as the BSS (Broadcast Satellite Services) business, to Dish in order to concentrate on broadband services and other initiatives.[9] The transaction was completed on September 10, 2019.[14]
On August 8, 2023, The Hollywood Reporter reported that Ergen was proposing a remerger between Dish and EchoStar.[15] Later that day, the acquisition was formally announced by both companies.[16] On January 2, 2024, it was announced that the transaction had been completed on December 31, 2023.[17][18]
In May 2024, EchoStar announced that it has been awarded a U.S. Navy wireless and telecommunications contract to provide 5G smart devices and services for the Department of Defense and federal agencies.[19]
In May 2024, Dish Network and Hughes Network Systems, both Echostar companies announced a new bundled service of Dish satellite TV with Hughesnet satellite internet.[20]
On September 30, 2024, EchoStar announced that it would divest its video distribution unit, Dish Network, to DirecTV in a debt exchange transaction that includes a payment of $1 and the assumption of approximately $9.8 billion in debt.[21] The deal also included $2.5 billion of financing from TPG Angelo Gordon and other co-investors to allow EchoStar to refinance the company's November 2024 debt maturity.[22] The deal will allow EchoStar to reduce its debt and refocus its resources toward its wireless Boost Mobile and satellite connectivity businesses. EchoStar and DirecTV expect the deal to close in the fourth quarter of 2025, contingent on regulatory approval and bondholders writing off nearly $1.6 billion in Dish-related debt.[23] In November, DirecTV abandoned the deal due to opposition from its bondholders.[24]
Satellite fleet
edit- Orbital locations may change
Since EchoStar frequently moves satellites among its many orbiting slots this list is not necessarily up-to-date.
| Satellite | Location | Launch date | Launcher | Satellite bus | Status |
|---|---|---|---|---|---|
| EchoStar I | December 28, 1995 | Long March 2E/EPKM | Decommissioned | ||
| EchoStar II | September 11, 1996 | Ariane 42P H10-3 | Decommissioned | ||
| EchoStar III (DBSC 1) | October 05, 1997 | Atlas IIAS | Decommissioned | ||
| EchoStar IV | May 07, 1998 | Proton-K/DM-03 | Decommissioned | ||
| EchoStar V | September 23, 1999 | Atlas IIAS | Decommissioned | ||
| EchoStar VI | July 14, 2000 | Atlas IIAS | Decommissioned | ||
| EchoStar VII | February 21, 2002 | Atlas IIIB-DEC | Decommissioned | ||
| EchoStar VIII | August 22, 2002 | Proton-K/DM-03 | Decommissioned | ||
| EchoStar IX (Galaxy 23) | 121° W | August 8, 2003 | Zenit-3SL | FS-1300 | In Service |
| EchoStar X | 110° W | February 15, 2006 | Zenit-3SL | A2100AXS | In Service |
| EchoStar XI | July 16, 2008 | Zenit-3SL | In Service | ||
| EchoStar XII (Rainbow 1) | July 17, 2003 | Atlas V521 | In Service | ||
| EchoStar XIII (CMBstar 1) | - | Proton-M/Briz-M | Cancelled | ||
| EchoStar XIV | March 20, 2010 | Proton-M/Briz-M | In Service | ||
| EchoStar XV | 61.5° W | July 10, 2010 | Proton-M/Briz-M | LS-1300 | In Service |
| EchoStar XVI | 61.5° W | November 20, 2012 | Proton-M/Briz-M | LS-1300 | In Service |
| EchoStar XVII (Jupiter 1) | 107.0° W | July 5, 2012 | Ariane 5 | LS-1300 | In Service |
| EchoStar XVIII | June 18, 2016 | Ariane 5ECA | In Service | ||
| EchoStar XIX (Jupiter 2) | 97.1° W | December 18, 2016 | Atlas V431 | SSL 1300 | In Service |
| EchoStar XXIII | 109.9° W | March 16, 2017 | Falcon 9 | SSL 1300 | In Service |
| EchoStar XXIV (Jupiter 3) | 105.2° W | July 29, 2023 | Falcon Heavy | SSL 1300 | In Service |
| EchoStar XXV | TBA | TBA | Planned | ||
| EchoStar 105 (SES-11) | 105.0° W | October 11, 2017 | Falcon 9 | Eurostar E3000 | In Service |
References
edit- ^ "EchoStar Corporation 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 24, 2022. Archived from the original on January 2, 2024.
- ^ Moritz, Scott (August 8, 2023). "Dish to Buy EchoStar as Ergen's TV Empire Shifts to Wireless". Bloomberg News. Archived from the original on January 2, 2024. Retrieved December 16, 2023.
- ^ "EchoStar". Fortune. Retrieved June 9, 2024.
- ^ Ford, Dominic. "ECHOSTAR 1". in-the-sky.org. Archived from the original on October 11, 2023. Retrieved March 4, 2019.
- ^ Hogan, Monica (March 18, 2006). "EchoStar Toasts a Decade of Dish Network". Multichannel News. Archived from the original on October 16, 2023. Retrieved March 4, 2019.
- ^ "SEC Filing". ir.dish.com. Archived from the original on October 11, 2023. Retrieved October 31, 2019.
- ^ Savitz, Eric. "EchoStar Completes Spinoff; Worth More In Parts?". www.barrons.com. Dow Jones & Company. Archived from the original on October 11, 2023. Retrieved March 4, 2019.
- ^ de la Merced, Michael J. (February 14, 2011). "EchoStar in $1.3 Billion Deal for Hughes Communications". The New York Times. Archived from the original on January 2, 2024.
- ^ a b "EchoStar Announces Agreement to Transfer BSS Business to DISH" (Press release). EchoStar Corporation. May 20, 2019. Archived from the original on October 16, 2023. Retrieved October 31, 2019.
- ^ "EchoStar Announces Exchange Agreement for Tracking Stock" (Press release). EchoStar Corporation. January 31, 2017. Archived from the original on October 16, 2023. Retrieved October 31, 2019.
- ^ Foust, Jeff (March 16, 2017). "SpaceX launches EchoStar 23". SpaceNews. Archived from the original on January 2, 2024. Retrieved March 4, 2019.
- ^ Grush, Loren (March 13, 2017). "SpaceX successfully launched a communications satellite on its Falcon 9 rocket". The Verge. Archived from the original on October 5, 2022. Retrieved August 7, 2017.
- ^ Boyle, Alan (March 16, 2017). "After delay, SpaceX launches EchoStar satellite – but forgoes rocket landing". GeekWire. Archived from the original on March 16, 2017. Retrieved August 7, 2017.
- ^ "EchoStar Announces Completion of the Spin-Off and Merger of its BSS Business" (Press release). EchoStar Corporation. September 10, 2019. Archived from the original on October 1, 2023. Retrieved October 31, 2019.
- ^ Wprin, Alex; Szalai, George. "Charlie Ergen Wants to Reunite His Telecom Empire Via All-Stock Merger of Dish Network and EchoStar". The Hollywood Reporter. Archived from the original on August 17, 2023.
- ^ "DISH Network Corporation and EchoStar Corporation to Combine" (Press release). Dish Network. August 8, 2023. Archived from the original on January 2, 2024.
- ^ Davis, Wes (January 2, 2024). "Dish Network rejoins EchoStar as it tries to compete in 5G". The Verge. Retrieved February 22, 2024.
- ^ Alleven, Monica (January 2, 2024). "Dish-EchoStar merger closes". Fierce Wireless. Retrieved February 23, 2024.
- ^ Corporation, EchoStar. "EchoStar Awarded a U.S. Navy Wireless and Telecommunications Contract to Provide 5G Smart Devices and Services for the DoD and Federal Agencies". www.prnewswire.com. Retrieved May 16, 2024.
- ^ Corporation, EchoStar. "DISH TV and Hughes Debut First Bundled Service Offering to Enhance Connectivity and Entertainment Across Rural America". www.prnewswire.com. Retrieved May 28, 2024.
- ^ Reilly, Jordan Valinsky, Ramishah Maruf, Liam (September 30, 2024). "DirecTV agrees to buy Dish for $1 | CNN Business". CNN.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Corporation, EchoStar. "EchoStar Announces Suite of Transformative Transactions to Delever Its Balance Sheet and Improve Its Debt Maturity Profile, Transition Its Strategic Focus and Pave the Road for it to Enhance and Further Deploy its Nationwide 5G Open RAN Wireless Network". www.prnewswire.com. Retrieved September 30, 2024.
- ^ Chapman, Michelle; Grantham-Philips, Wyatte (September 30, 2024). "Satellite service DirecTV buys rival Dish as it fights the onslaught of streaming services". ABC News. Retrieved September 30, 2024.
- ^ Szalai, Georg; Werpin, Alex (November 21, 2024). "DirecTV Abandons Deal to Acquire Dish Amid Bondholder Opposition". The Hollywood Reporter. Archived from the original on November 22, 2024. Retrieved November 21, 2024.